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03
City of Pleasanton
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CITY CLERK
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AGENDA PACKETS
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2018
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071718
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03
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CITY CLERK
CITY CLERK - TYPE
AGENDA REPORT
DOCUMENT DATE
7/17/2018
DESTRUCT DATE
15Y
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Attachment 3 <br /> Summary of Services Provided in Previous Contracts <br /> Hello Housing - Summary of Services Provided During Contract Terms <br /> Since January 2016, Hello Housing has successfully met objectives set forth in its <br /> agreements with the City. Highlights include the following: <br /> • Digitized the City's complete portfolio of Below Market Rate owners' paper-based <br /> files and Down Payment Assistance Program (DPA) loan files to Hello Housing's <br /> HomeKeeper database, a Salesforce-based database platform. There are <br /> currently 99 units in the City's homebuyer program portfolio. <br /> • Developed a Pleasanton-specific webpage on the Hello Housing website <br /> (http://www.hellohousing.org/stewardship/cityofpleasanton/) to provide resources <br /> and information for new, prospective buyers and existing homeowners in the <br /> PHAP. <br /> • Conducted an annual BMR and loan monitoring process in 2016 and 2017 to <br /> ensure the homes are owner-occupied in compliance with the City's restricted <br /> covenants and loan agreements. <br /> • For three (3) City-owned Below Market Rate properties (91 East Creek, 3917 <br /> Vineyard, and 214 Rocky Creek), developed and implemented the marketing <br /> process, performed the lottery to establish the priority list, identified and worked <br /> with eligible buyers, drafted loan documents, and coordinated the close of <br /> escrow to ensure the successful sale of these units to income-eligible first-time <br /> homebuyers. <br /> • During the fiscal year 2017/2018, developed and implemented the marketing <br /> process, performed the lottery to establish the priority list, identified and worked <br /> with eligible buyers, drafted loan documents, and coordinated the close of <br /> escrow to income-eligible first-time homebuyers for the BMR resales at 614 <br /> Palomino, 248 Birch Creek, and 5807 Sterling Greens Circle. <br /> • Processed and closed two (2) refinances in 2016 and one (1) in 2017. <br /> • Processed one (1) DPA loan application in 2016, two (2) in 2017, and one in <br /> 2018. Of those DPA applications one (1) closed in 2016 and one (1) closed in <br /> 2018. <br /> • Implemented the Marketing and Sales Plan for the Summerhill "Andares" <br /> development, which included 10 BMR townhomes that were sold at below- <br /> market-rate prices to income-eligible and qualified lower income first-time <br /> homebuyer households. This included, conducting a lottery and creating the <br /> ranking order and waitlist for 530 pre-applicants, preparing two (2) detailed <br /> workshop presentations, in July and September of 2017, highlighting the City's <br /> program requirements for over 100 applicants interested in purchasing homes in <br /> the Andares development, and reviewing 47 applications to determine 10 eligible <br /> buyers. Of the 10 eligible buyers, eight (8) have closed escrow in 2017 and 2018. <br />
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